FAQ for Self Employed Home Loans
Frequently asked questions on self-employment home loans or stated income loans.
Question: How good does my credit have to be?
Answer: You need a minimum credit score of 600 to be eligible for a stated income self-employment home loan. Past credit issues may be okay… READ MORE
Bank Statements are the New Stated Income Loan
Back in 2007 and 2008 during the subprime mortgage bust, stated income mortgages were a thing, but they tended to get people into a lot of trouble and made it possible to buy homes they really couldn’t afford. But, with a little bit of finesse, revising, and a lot of experience, we’ve now developed a new program called the bank statement home loan. READ MORE
Stated Income Loans are Available Again to Investors
Stated income home loans used to be widely available before the recession in 2008. And although we’re not back to the subprime mortgage bust, and hopefully never will be, these loans were extremely valuable and they’re making a huge comeback. READ MORE
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Surprising Things That Can Lower Your Credit Score, Even If They’re Good Financial Moves
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What I Wish More Buyers Knew About Jumbo Loans Before Shopping for Luxury Real Estate
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Why Non-QM Loans Are Perfect for Tech Entrepreneurs and Freelancers
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Watch Out for These Myths About Buying a Luxury Home as a Small Business Owner
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Why Is It Hard for Self-Employed to Get a Mortgage? (And the Easiest Mortgage Options for Self-Employed Borrowers in Southern California)
If you’re self-employed and have tried applying for a home loan, you’ve probably asked yourself (either in curiosity or frustration): why is it hard for self-employed borrowers to get a mortgage? Many successful entrepreneurs, freelancers, and small business owners...
How to Refinance and Get Out of a Home Tap Loan in California
Home Tap and other equity-sharing agreements have become popular in California, especially among homeowners who own luxury homes but don't have the liquid assets to renovate or remodel they way they would like. These programs offer upfront cash in exchange for a share...
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Here you’ll find tips, updates on mortgage laws and changes that can affect your loan or approval. Check back often for more great ideas.